With Dangote Refinery, Nigeria Would Have Excess Refined Petroleum for Export- Buhari

He also said it will put a permanent end to the toxic and substandard petroleum products being dumped in Nigeria, strengthen the country’s economy, and enable Nigeria to export refined petroleum products at competitive prices.

The president stated this while inaugurating the six hundred and fifty thousand barrels per day facility in Ibeju-Lekki, in Lagos State.

Also speaking, the President of the Dangote Group, Aliko Dangote, said his refinery will generate massive job opportunities for the teeming Nigerian youths.

He also said the first product of the Dangote Petroleum Refinery and Petrochemicals will be in the market around the end of July this year.

In a remark, the Central Bank of Nigeria, Godwin Emefiele, said the newly inaugurated Dangote Petroleum Refinery and Petrochemicals will help Nigeria generate more power for its electricity sector.

The CBN governor said the facility is expected to generate twelve thousand megawatts of electricity, as well as provide over three hundred and thirty-five thousand permanent jobs for Nigerians.

He also said the refinery will save Nigeria between twenty-five and thirty billion dollars in foreign exchange annually.

In the meantime, the President of the Rivers Entrepreneur and Investors’ Forum, Ibifiri Bobmmanuel, has revealed that the actions of the Rivers State Government and some local government councils in the state were the reasons the Dangote Petroleum Refinery was moved from Rivers State to Lagos State.

Bobmmanuel, in an interview with Today FM’s Ifunanya Obeme-Ndukwe, said the Investor’s Forum engaged the management of the Dangote Group and the Federal Government in order to dissuade them from a change of location.

The President of REIF, however, noted that it was discovered that the Rivers State Government and the local governments area, where the refinery was to be located made huge demands on the group which caused them to move to Lagos State.

Bobmmanuel said the Rivers State Government, the local governments and communities need to understand how to negotiate with business owners to attract businesses.

He called on the incoming government to sit up and see the importance of private participation in governance in the state.